unit 5 shopping - lancaster high school · 2018. 8. 8. · money saving apps/digital coupons ... an...
TRANSCRIPT
Unit 5 Shopping
After this unit, you should be able to answer the following questions: ● What are some smart shopping tips I can follow? ● What are some tricks advertisers use to get me to buy a product? ● How do I comparison shop for the best buy?
Name ____ Key _____________
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Smart Shopping Tips Some Shopping Myths
1. Sales should always be taken advantage of…
⇢ If you don’t need the item, even a sale is a waste of money
2. If you sleep on a purchase, you will probably miss out on the bargain of a life time.
⇢ Most companies offer multiple sales on the same item . If the item is popular, people will continue to buy it!
3. The best deals are always economy size.
⇢ You need to check the unit price , don’t just assume bigger = better deal!
4. Buying the extended warranty is always the smart thing to do.
⇢ The percentage of items that break after the included warranty is very low . And most warranties only cover parts not labor .
Before you shop :
● Think about your __ needs ____ versus your _ wants ___ ● Make a shopping trip budget ● Consider the trade offs you might need to make to stick to your budget
Let’s watch a video on spending trade offs. As you watch, think of a time your had to make a spending trade off. Describe it here. Be prepared to share this with your partner.
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Shopping Tip Jot Thought On the post it notes, write as many smart shopping tips are you can, one idea per post it. Try to cover your whole desk! You and your partner will then try to organize your tips into categories. Be prepared to share with the class!
General Shopping Tips
(Responses will hopefully be…)
Don’t impulse buy Shop around Research before spending Compare name brand to generic brand Watch ads for sales Use coupons Sign up for store emails/club cards (if free!) Compare online/in store
Grocery Shopping Tips
Plan weekly meals Make a list and stick to it Shop at multiple stores to catch all sales Shop at warehouse clubs (BJs and Sams) Don’t shop when you’re hungry Money saving apps/digital coupons Shoppers club cards
Clothes Shopping Tips
Shop department stores sales Check out trendy/cheap stores like Forever 21/H&M TJ Max/Marshals have designer brands for less
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Advertising Tricks
Commercials/Ads Remember, people are paid thousands of dollars to make products look more appealing to you. Advertisers will use all kinds of tricks to get you to buy a product.
● Celebrity Approach A famous person using a product.
Ex: Basketball player wearing specific brand of shoes, Actress using a face cream
● Authority Approach A knowledgeable person, such as a doctor , advertises a product
Ex: Dentist talking about a specific toothpaste
● Bandwagon Approach Everyone is using this product so you should too
Ex: Cell phone companies show groups of people with same product
● Quality Comparison Approach Compares 2 products and gives reasons why one is better
Ex: Wet toilet paper or paper towels test
● Show the Results Approach Shows the differences between someone using and not using a product
Ex: Weight loss pills
Packaging
● Many packages contain fine print that reveals certain items pictured are not actually included or that doesn’t do a certain motion Ex: A toy missile launcher may not actually launch missiles
● An ingredient listed might not actually be in the product (or there might be very little of it)
Ex: Juice may say “contains real fruit” but actually only contains 5%
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● Ingredients are listed very small in hopes you may not notice things that are unhealthy
Ex: TItanium dioxide (an ingredient in paint) is also in Tostino’s Pizza Rolls
● Package claims to do something it doesn’t Ex: There is no proof the “healing hand cream” actually heals
● Buzzwords
Ex: No high fructose corn syrup but product is packed with sugar Gluten Free but gluten wouldn’t normally occur in the product 100 Calorie pack but loaded with carbs and salt Low Fat but loaded with sugar “Natural” but what are the regulations for this
● Misleading picture
Ex: Salad dressing shows fruit on bottle but there is no fruit in it
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Unit Price/Better Buy
Unit price is the price per unit of measure for an item (ex. Price per pound). The unit price is usually located somewhere on the shelf sticker, smaller than the price you pay. It allows you to compare 2 different size packages, or 2 brands to determine which is the better buy . Example: The first price tag is for a 14.75 oz can of Spaghettios for $.98. The second sticker of for a 26.25 oz can of Spaghettios for $2.12. Often, we are told that although the larger jar is more expensive, it is the better deal because you get more for your money, but how do you really know? The unit price is what would allow you to know that. On this price tag, the unit price is located in the upper left hand corner. Which choice is actually the better deal?
The 14.75 oz can If the unit price is not listed, you should know how to find it mathematically. There is a simple formula:
Let’s look again at the example above:
Find the unit price of a 14.75 oz can of Spaghettios for $.98. $0.98/14.75 = $.066 per oz
Find the unit price of a 26.25 oz can of Spaghettios for $2.12 $2.12/26.25 = $.081 per oz
The ___ 14.75 oz can _____ is the better buy!
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Find the unit price of each item.
1. 16 oz jar of peanut butter for $2.49 4. 8 oz bottle of ketchup for $1.69
2.49 / 16 = $.16 per oz $1.69 / 8 = $.21 per oz
2. 64 oz bottle of apple juice for $1.99 5. 8 oz bottle of cashews for $4.99
$1.99 / 64 = $.03 per oz $4.99 / 8 = $.62 per oz 3. 300 oz bottle of detergent for $12.49
$12.49 / 300 = $.04 per oz
Find the unit price of each item to determine which is the better buy.
1. A gallon (128 oz) of chocolate milk for $3.69 or a quart (32 oz) for $1.99. Gallon: $3.69/128 = $.03/oz Quart: $1.99/32 = $.06
2. A 300 oz bottle of detergent for $12.49 or a 50 oz bottle for $5.49. 300 oz: $12.49/300 = $.04/oz 50 oz: $5.49/50 = $.11/oz
3. A 64 oz bottle of ketchup for $3.79 or a 36 oz bottle for $2.19.
64 oz: $3.79/64 = $.06/oz 36 oz: $2.19/36 = $.06/oz
4. An 8 oz bottle of mustard for $.89 or a 20 oz bottle for $1.29. 8 oz: $.89/8 = $.11/oz 20 oz: $1.29/20 = $.06/oz
Just because something is the “better deal” doesn’t mean you should always buy it! In the example above, if you are only buying mustard for party guests but you hate mustard and will never use the leftovers, would it make sense to spend the extra money on the bigger bottle?
No! So, it the better buy always the smarter choice? Why or why not?
No because if you will never use the item, spending the extra money on the larger size was a waste!
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Comparison Shopping
On the previous pages, we talked about comparing different brands at the same store to determine which is the better buy. You may also find it useful to compare the prices of items at different stores, or online. It often pays to do research ahead of time before making a purchase by checking out a couple stores and the internet. Store VS Store
● You should price check items at multiple stores before you decide to make a purchase.
● With groceries, check the ads that are mailed out before you make your grocery list. By making a list of multiple stores you can get the best deals at each one, saving you money
● Check out wholesale stores like BJ’s and Sam’s Club if you know you will use a large quantity of an item
● Check out smaller stores like Aldi’s and Save a Lot. These stores save you money by not providing things like plastic bags and shopping cart attendants.
Online VS In Store
● Online stores tend to have a cheaper “regular price” than stores. This is because they don’t have to pay for displays , as many employees and the items can ship right from the manufacturer instead of having to be stored.
● Online stores don’t always have to charge sales tax , another savings!
● You often have to pay for shipping with an online store. So make sure the shipping charge doesn’t negate the savings.
● Online store sometimes require a special code in order to receive an extra discount. This is usually found on the web site’s home page.
● Sometimes, going directly to a manufacturer's website will get you a better deal than going through a 3rd party. For example, instead of buying a designer bag from Macys.com, try going directly to that designer’s web site.
● Actual stores tend to have better deals on clearance items because they need to make room on their store shelves.
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● For Returns Buy in store: You have NO right to return goods unless they're faulty . Some stores
will allow you to return items, but that's their policy rather than any official obligation.
Buy online: Under the Consumer Contracts Regulations, you have a 14day 'cooling off period' after ordering where you've got a legal right to change your mind. You've then got a further 14 days to return the goods. Note, there doesn't need to be anything wrong with them to get a full refund (including delivery costs, though you may need to pay to send the goods back)
Questions:
1. Choose an item that you are interested in purchasing. It must be something that you could purchase at a store or online. There is no price limit but you must be specific. For example, instead of saying “Sneakers” say “Nike Air Max”.
The item I’m shopping for is ____________________________
You are going to find the price of your item at 3 places:
A Store Online Only Manufacturer (Ex: Famous Footwear) (Ex: www.Zappos.com ) (Ex: www.nike.com ) Store: ________________ Site: _______________ Site: _______________ Price: ________________ Price: ______________ Price: ______________
Shipping: ____________ Shipping: ____________
Total: ______________ Total: _____________ If you could go buy your item right now, which place would you purchase it from? Why?
2. Go to www.shutterfly.com . Find a sale that they are offering that also requires a promo code to get it. What is the sale? What is the promo code?
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Buying More than One Item Often stores offer sales like 3 for $10, but you may not need to buy the whole quantity, or you may want to buy more than just that amount. You are still eligible for the sale price. In order to find the amount you will pay, we can use a proportion.
To solve a proportion, you need to cross multiply .
Example: Bags of Doritos are on sale 3 bags for $10. You want to purchase 5 bags for a party, how much are you going to pay? Independent Practice: Find the cost in each situation.
1. You want to buy 5 cans of tomatoes on sale 3 for $.99
$1.65
2. You want to buy 2 packages of Jello, at 3 for $1.00
$0.67
3. Limes are on sale 5 for $2.00. You only need 1 lime.
$0.40
4. How much will it cost for 3 oranges if they are on sale 5 for $1.99?
$1.19
5. Apples cost $1.49 per pound, find the cost of 1.6 pounds.
$2.38
6. A pound of ham costs $6.59 per pound. What is the cost of 2.5 pounds? $16.48
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Sales and Clearance Sales and Clearance are generally based on a percentage off the original amount. Find the sale price by:
1. Change the percent to a decimal by moving the decimal point _ 2 _ places to the __ left _.
2. Multiply the _ total _ by this new number.
3. Subtract that number from the price Example: An item was priced at $145.50. If the sale discount was 20%. What is the sale price of the item?
$145.10 x .20 = 29.02 145.10 29.02 = $116.08 Independent Practice:
1. You go to Macy’s and find a shirt for $19.99 and a pair of pants for $35.99. You have multiple coupons. One coupon is for 15% off $25 or more. The other coupon is for $20 off $50 of more. Which coupon are you going to use and what will the sale price be? $19.99 + $35.99 = $55.98 $55.98 x .15 = 8.40 Better to use $20 off coupon, total would be 55.98 20 = $35.98
2. It’s Black Friday and the big screen TV you’ve been wanting is 35% off! The TV is originally priced at $899.99, what is the sale price? $899.99 x .35 = $315.00 $899.99 $315 = $584.99
3. You go to a Tupperware party to find a gift for your grandma for her birthday. The set of containers you are interested in is $25.00. However, if you buy 3 containers, you get a 15% discount. Your budget is $60. Can you afford to take advantage of the sale?
3 x 25 = 75 x .15 = 11.25 75 11.25 = $63.75 No you can’t!
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Coupons and Money Saving Apps Coupons Coupons are a great way to save money. Coupons for grocery store items generally come in the sunday paper or the stores ad. Coupons for other stores are generally mailed to your house if you sign up in store at check outs. When cashiers ask for your phone number and email, it is usually because they want to send you free coupons! Things to be aware of with coupons
● Watch out for the quantity . Many coupons require you to purchase multiple items in order to use them.
● Coupons have expiration dates.
● Some stores let you stack (or combine) coupons, others do not
● Sometimes other brands are still cheaper even with use coupons!
● Many stores will double a manufacturer’s coupon, if the coupon is $.99 or less.
● Coupons can only be used on name brand items, not generic or store brands! Example: A bottle of French’s Mustard costs $1.29. You have a coupon for $.50 off French’s Mustard and the store will double the coupon. How much will you pay for the mustard? Independent Practice:
1. A 16 oz jar of Jiff’s Peanut Butter costs $1.49. The store brand costs $.99. The store will double coupons up to $.99. You have a $.20 off coupon for Jiff Peanut Butter. Which is the better buy?
2. A package of Oreo’s cost $2.79. You have a coupon for $1.00 off two packages. a. How much will you spend on Oreos?
b. If you don’t really like oreos and only plan on buying them for a recipe, should you use the coupon or just buy 1 package?
Money Saving Apps
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There are tons of free apps that can save you a lot of money on the things you buy! Watch the video from His and Her Money. They describe 5 free apps. Match the apps with their description as you watch.
Apps: Cartwheel GeoQpons Retale Checkout 51 Ibotta
Descriptions :
1. __ Retale ___ Shows you deals, coupons, promotions and ads to stores in your area so you
know where the sales are. You can also search by product to see if a store has it on sale.
2. __ Ibotta __ Gives you cash back for certain products at certain stores that you buy by scanning the product and receipt, can cash out with PayPal or buy gift cards
3. ___ Cartwheel _____ Has coupons just for Target. You can stack these with other coupons.This app also lets you know if there is a deal on a target product by scanning it or will show you a similar item that is on sale.
4. _ Checkout 51 ___ Gives you cash back at any store by scanning the product and the receipt. This is nice because you can use it at smaller stores not just major retailers.
5. __ GeoQpons ___ Contains coupons to almost any retailer or restaurant Do you have any experience with any of these apps? ______________
If yes, which ones and describe your experience?
If no, which of these apps would you consider using and why?
Sales Tax
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Sales tax is an easy way for states and counties to make money. New York state charges 4% sales tax and Erie County charges 4.75% sales tax. This means that in Erie County, the total sales tax rate is 8.75% . Exemptions to Sales Tax:
● Unprepared food no tax ● Clothes under $110 per item 4.75% (Only Erie County tax is charged)
Finding Sales Tax
Cost of the Item x Tax rate Finding Total Amount Due
Cost of the Item + Sales Tax Example 1 Joe buys a Kindle Fire off Amazon. It is on sale for $39.99.
A. How much sales tax does he pay? $39.99 x .0875 = $3.50
B. What is the total cost of the Kindle (assume shipping is free!)?
$39.99 + $3.50 = $43.49 Example 2 Jodi goes shopping and buys 2 shirts for $19.99 each, jeans for $59.99, and a scarf for $12.99. What is the total cost including tax?
2 x 19.99 = 39.98 + 59.99 + 12.99 = $112.96 $112.96 x .0475 = $5.37 $112.96 + $5.37 = $118.33
Example 3 Danielle goes to Wegmans to pick up strawberries ($5.99), 2 pounds of bananas ($1.99 per pound), and a pineapple for $3.99 to make a fruit salad. While she is there, she also picks up sushi for $8.99. What is her total bill including tax?
$5.99 + 2($1.99) + $3.99 = $13.96 $8.99 x .0875 = $0.79 $13.96 + $0.79 = $14.75
Independent Practice:
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1. Don buys a TV from Best Buy for $299.98.
A. How much sales tax does he pay?
$299.98 x .0875 = $26.25
B. What is the total cost of the TV? $299.98 + $26.25
2. Nancy goes shopping and buys a dress for $69.99 and new shoes for $52.99. How is the total cost of her new outfit including tax?
$69.99 + $52.99 = $122.98 $122.98 x .0475 = $5.84 $122.98 + $5.84 = $128.82
3. You are having some friends over for pizza and a movie. You stop at Tops and pick up one
of their cooked pizzas for $12.99. You also grab 2 bags of Doritos for $2.99 each, and a container of chip dip for $3.99. What is your total bill including tax?
$12.99 x .0875 = $1.14 $12.99 + $1.14 + 2($2.99) + $3.99 = $24.10
Restaurants/Tips
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Generally, you can make yourselves meals for cheaper than you can pay at a restaurant. Let’s take pizza as an example:
● Approximately, how much would it cost to make a pizza at home (consider the ingredients you need for pizza...dough, cheese, sauce, toppings)
● How much would it cost to order the same pizza as takeout from Ronny’s Pizzeria? Keep in mind, extra toppings are usually extra cost. Also, since you food is already assembled, there will be tax!
● How much would it cost to order the same pizza from 99 Brick Oven? Keep in mind, you will need to pay tax and tip (15%).
Notice that eating at a restaurant is your most expensive option, but it is still nice to treat yourself
sometimes. When you eat at a sit down restaurant, you need to pay your waiter or waitress a tip .
You do not need to tip at Fast Food or Take Out restaurants. A general rule for a tip is 15% to
20% of your bill BEFORE tax. You should always tip on the full value of the meal BEFORE
coupons. If there is a problem with your food , you should report it to your waiter or waitress, don’t
not tip them unless there was a problem with the service .
Independent Practice:
1. Dinner costs $24.99. If a 20% tip is left, what is the amount of the tip? 5.00
2. Sue and Tom went to lunch. The cost of lunch is $18.48. The tax is $1.62. If a 15% tip is left, what is the total cost of the meal? $22.87
3. You and your family, a party of 10 go out to dinner. Dinner costs $122.14. What is the amount of the tip is the restaurant automatically adds on the 18% gratuity?
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$21.99
4. Megan and Liz went out to lunch. Liz had a coupon a coupon for buy one get one item of the sale value free. Each lunch costs $6.39. If they give the waitress a 15% tip, what is the total cost of the meal?
$8.31